Top 20 Global Chemical Companies by Revenue in 2025

Resonac Holdings announced its 2025 financial results. Full-year revenue totaled ¥1.3471 trillion (approximately USD 8.458 billion), down from ¥1.3915 trillion in the prior year. Full-year operating profit amounted to ¥46.7 billion, compared to ¥89.0 billion the previous year. Net income attributable to owners of parent stood at ¥29.0 billion, down from ¥73.5 billion in the prior year. Yuntianhua released its 2025 annual report. The company’s full-year revenue was RMB 48.41 billion (approximately USD 7.09 billion), a 21.3% decline year-on-year; net income attributable to owners of parent was RMB 5.16 billion, down 3.3% year-on-year. In Q4 alone, revenue was RMB 10.82 billion, down 27.0% year-on-year; net income attributable to owners of parent was RMB 427 million, down 53.0% year-on-year. United States Dow Inc. announced its Q4 and full-year 2025 results. Q4 net sales were USD 9.46 billion, versus USD 10.405 billion in the same period last year. Q4 net loss attributable to common shareholders was USD 1.543 billion, compared to a net loss of USD 53 million in the prior-year quarter. Full-year net sales totaled USD 39.968 billion, down from USD 42.964 billion in 2024. Full-year net loss attributable to common shareholders was USD 2.623 billion, versus net income of USD 1.116 billion in 2024. Ecolab Inc. announced its Q4 and full-year 2025 results. Q4 net sales were USD 4.196 billion, up 5% year-on-year from USD 4.005 billion. Q4 operating profit was USD 712 million, up 22% from USD 583 million in the prior-year quarter. Q4 net income attributable to the company was USD 564 million, up 19% from USD 473 million. Full-year net sales totaled USD 16.081 billion, up 2% from USD 15.741 billion in 2024. Full-year operating profit was USD 2.738 billion, down 2% from USD 2.802 billion. Full-year net income attributable to the company was USD 2.076 billion, down 2% from USD 2.112 billion. Westlake Corporation announced its Q4 and full-year 2025 results. Q4 net sales were USD 2.533 billion, down from USD 2.843 billion in the prior-year quarter. Q4 net loss attributable to the company was USD 544 million, versus a net loss of USD 782 million in the prior-year quarter. Full-year net sales totaled USD 11.17 billion, down from USD 12.142 billion in 2024. Full-year net loss attributable to the company was USD 1.508 billion, versus net income of USD 602 million in 2024. International Flavors & Fragrances Inc. (IFF) announced its Q4 and full-year 2025 results. Q4 net sales were USD 2.589 billion, down 7% year-on-year from USD 2.771 billion. Q4 operating profit was USD 97 million, down 24% from USD 127 million in the prior-year quarter. Q4 net income attributable to shareholders was USD 18 million, versus a net loss of USD 60 million in the prior-year quarter. Full-year net sales totaled USD 10.89 billion, down 5% from USD 11.184 billion in 2024. Full-year operating loss was USD 382 million, versus operating income of USD 766 million in 2024.

A data center thermal management company valued at USD 10 billion is seeking acquisition

Phononic was founded in 2009 by Tony Atti, a former NASA researcher; Matt Trevithick, a former partner at Venrock; and Professor Patrick McCann of the University of Oklahoma. The company develops thermoelectric coolers deployed across diverse cooling applications—including smart mattresses and logistics shipping containers—and counts Thermo Fisher Scientific and Futai Technology among its partners. It also collaborates with Fabrinet to scale up manufacturing capacity across the Asia-Pacific region. Since its inception, Phononic has completed multiple funding rounds, with investors including Oaktree Capital Management, GGV Capital, Qiming Venture Partners, Venrock, and Goldman Sachs Group. Phononic LinkedIn page Amid the rapid advancement of AI over the past two years, Phononic has shifted its business focus toward data center thermal management. In mid-November last year, the company launched an AI data center cooling solution. Unlike mainstream liquid-cooling solutions currently adopted in data centers—which require pumps to circulate coolant through server-mounted cold plates—Phononic’s thermal management modules are built around thermoelectric coolers (TECs) that can be directly mounted onto high-bandwidth memory chips and graphics processing units (GPUs), enabling localized cooling for chip clusters. These modules are compatible with existing air- and liquid-cooling systems. In 2022, Phononic’s most recent valuation stood at USD 600 million. Its current valuation has more than doubled since then—making it yet another example of industrial technology companies experiencing explosive valuation growth driven by the AI boom. Terms of the potential transaction remain under negotiation; Phononic may ultimately abandon the sale process in favor of raising additional capital. Over the past two years, AI companies’ insatiable demand for data centers has triggered a construction boom across the sector, fueled by the explosive growth of the AI industry.

Is It Time To Reassess Ecolab (ECL) After The Recent Share Price Pullback?

May 12, 2026

Ecolab stock is being reassessed following a price pullback, with valuation models showing mixed signals between fair value via DCF and overvaluation via P/E ratios compared to industry peers.